New York lawmakers say they’d like to find ways to help struggling individuals get financial help without resorting to high-cost, unregulated loans.

The state Assembly held a hearing Tuesday in Manhattan to discuss the dangers posed by unregulated loans and the available alternatives.

One option is a kind of loan known as “borrow and save” loans, which automatically place a percentage of the proceeds in a savings account that can be accessed when the loan is repaid.

Supporters of the idea say consumers with poor credit have few choices other than predatory, unregulated lenders who charge high interest rates.

(AP)